United States and Iran may sign a memorandum of understanding on Wednesday. This could open the Strait of Hormuz earlier than planned. The agreement's provisions would take effect immediately. The US might release the full text on Wednesday. Discussions are ongoing about shifting the timeline.

President Donald Trump said the Strait of Hormuz would reopen upon the deal’s signing on Friday.

US and Iran reached an interim peace deal which would open up the Strait of Hormuz, with the official signing to take place on Friday in Switzerland.

The signing comes before the two countries are expected to ink the agreement in person during a meeting in Switzerland on Friday.